Glass Mat Market to experience an impressive growth of 5.2% during 2020-2025
January 27, 2020
Glass Mat Market is likely to witness an impressive CAGR of 5.2% during the forecast period. High demand from the construction & infrastructure industry and other emerging application industries such as industrial & chemical and automotive and the property of glass mat bearing the ability to reduce weight and impart better aesthetic looks than metal parts are the major factors expected to drive the global glass mat market during the forecast period.
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Glass Mat Market Segment Insights:
By Mat Type:
Based on the mat type, the market is segmented as chopped strand mat and continuous filament mat. Chopped strand mat is estimated to be the faster-growing mat type segment during the forecast period. It was also the larger segment for glass mat in 2018, in terms of value, driven by the fact that it is the most favored mat type to fabricate composites. Chopped strand mat is extensively applicable in marine, recreational, industrial, transportation, and construction applications, among others, which is driving the growth of the segment.
By Binder Type:
Based on the binder type, the market is segmented as emulsion bonded glass mat and powder bonded glass mat. The emulsion-based glass mat segment commanded the glass mat market owing to its better handling properties, ease of processing, and better surface bonding efficiency against powder bonded glass mat. Emulsion bonded mats provide benefits, such as rapid resin impregnation, easy air removal, good surface bonding, high strand integrity, better aesthetics to composite parts, and low resin consumption, among a host of others.
By End-Use Industry Type:
Based on the end-use industry type, the market is segmented as construction & infrastructure, industrial applications, automotive & transportation, marine, sports & leisure goods, and others. The construction & infrastructure segment captures the highest share of the market, driven by rapid innovations in the integration of lightweight GFRP composites, which offer robust corrosion resistance, and better aesthetic properties. This is likely to further pace up the demand for glass mat from construction & infrastructure component manufacturers.
By Region:
In terms of regions, presently, Asia Pacific is estimated to be the largest consumer of glass mat globally. India and China are the high growth engines of the region due to the growing construction & infrastructure and industrial & chemical industries in both of these countries. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Key Players:
Some of the major players in the glass mat market are Binani Industries Limited, Central Glass Co., Ltd., China Beihai Fiberglass Co., Ltd., Chongqing Polycomp International Corporation, Eastern Industrial Company (EICO), Hangzhou Mingda Glass Fibre Co., Ltd., Jushi Group Co., Ltd., Jiangsu Jiuding New Material Co., Ltd., P-D Glasseiden GmbH, and Saint-Gobain S.A.
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- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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